Making sense of GIC’s role in the startup space

More: Meet Patrick Walujo, the early investor who’s become CEO of GoTo. [Read from your browser]( Daily Newsletter --------------------------------------------------------------- Welcome to Tech in Asia's free Daily Newsletter! Get full access to our subscribers-only Daily Newsletter and other insightful analysis on the big and messy topics of Asia’s tech and startup community by [registering here](. --------------------------------------------------------------- IN FOCUS In today's newsletter, we look at: - [GIC’s influence in the tech ecosystem]( - The mind-blowing potential of the generative AI space - Other newsy highlights such as GoTo’s new boss and Animoca co-founder's views on AI and blockchain --------------------------------------------------------------- Hello {NAME} We have all mistaken someone for another every now and then. It’s slightly embarrassing to think back on the number of times I called strangers “mom” or the even worse-sounding “mommy” at the mall. Cue the awkward silence and sheepish apology. I, too, am a frequent victim of mistaken identity as I’m almost always confused for my brother, who is a cool five years older than me. It’s somewhat appalling considering I’m the more handsome one, but frankly I’d rather have his bank account. Funnily, I believe Temasek would sympathize with me. The Singapore state-owned investment major is often inaccurately referred to as a sovereign wealth fund (SWF). But today’s featured story spotlights the city-state's actual SWF, so don’t worry about confusing one for the other again. Read on to figure out how GIC (formerly Government of Singapore Corporation) has gone about accomplishing its mandate of achieving good long-term returns over global inflation, and why it considers itself a fairly conservative investor compared to Temasek. -- Shravanth  ---------------------------------------------------------------  THE BIG STORY [Mapping GIC’s influence in the tech ecosystem]( In 2022, GIC invested US$40.3 billion into companies globally, 17% more than in 2021. We chart its bets in the tech space and its investment strategy. --------------------------------------------------------------- TRENDING NEWS [Generative AI to reach $1.3t in revenue by 2032: Bloomberg Intelligence]( The industry is projected to have a compound annual growth rate of 42% over the next decade, according to Bloomberg Intelligence. [Meet Patrick Walujo, early investor turned CEO of GoTo Group]( He is expected to drive the firm to its much-awaited goal: turning a profit. [Blockchain, AI are ‘firmly intertwined,’ says Animoca boss Yat Siu]( Animoca Brands has been investing in the AI space since late 2018. [Durianpay charts expansion as TPV run rate grows 5x YoY]( The payments firm also plans to grow its 40-member team across its product, tech, operations, finance, and business development departments. ---------------------------------------------------------------  VISUAL STORY OF THE DAY [Why Asia’s super apps provide a glimpse into the future]( Whether measured by users or their contribution to the economy, super apps have a huge impact on Asia as well as the future of the West. ---------------------------------------------------------------  PRESS PEEKS The following press releases were published as they were received, without any editing from the Tech in Asia team. You too can publish your own press release on Tech in Asia by simply filling in [this form](. Our team will get back to you by the next business day. - Centic - [Centic – a scoring platform for the entire Web3 Space snaps up seed funding from IDG Capital Vietnam Blockchain]( Centic, a data analytic platform for Web3 successfully secured a significant investment from IDG Capital Vietnam Blockchain. - GoSkyi AI - [Riding the ChatGPT Wave: GoSky AI Secures Multi-Million Dollar Pre-Series A Investment from 500 Global, Acorn Pacific Ventures and Paragon Venture Capital]( Eyeing the Trillion-Dollar Opportunity Behind AI-Powered CRM Set to Revolutionize Business Marketing and Sales. ---------------------------------------------------------------  EVENTS HAPPENING You can also check out a curated list of trending tech events [over here](. - [Tech in Asia’s Founders Meetup: Vietnam on June 28]( Our networking event, Founders Meetup: Vietnam, is happening in Ho Chi Minh City on June 28 at The Sentry, 2/F Sonatus Building. Join us and share the hardest challenges you’ve faced as a founder. To help you find solutions, we’ll introduce you to fellow founders who have been there and done that. Register today! ---------------------------------------------------------------  WHO'S HIRING You can post a job [here]( or search for jobs [here](. - [Senior MLOps Engineer]( at Trusting Social Ho Chi Minh City, Vietnam - [Senior Finance Associate]( at Deliveree Indonesia Jakarta, Indonesia - [Data Analyst]( at Bangunindo Teknusa Jaya Jakarta, Indonesia - [Enablement Specialist]( at Aigens Jakarta, Indonesia - [Associate Product Manager]( at Lion Parcel Jakarta, Indonesia - [Site Reliability Engineer]( at Reku Jakarta, Indonesia [ADVERTISE]( | [SUBSCRIBE]( P.S. Don't miss out on the biggest tech news and analysis. Add newsletter@techinasia.com to your address book, contacts, or safe sender list. Or simply move us into your inbox. Tech in Asia thanks our partners for supporting our newsletters. Sponsorship has no influence on editorial content. Too many emails? Switch to a different frequency or get new content through our [preference center]( or [unsubscribe](. You can also break our hearts and remove yourself from all Tech in Asia emails over [here](  ---------------------------------------------------------------  Copyright © 2023 Tech in Asia, All rights reserved. 63 Robinson Road, Singapore 068894